Stellar’s Very Own Lightning Torch Has Been Showing Off Its Network Efficiency

A scheme called the Lightning Trust Chain was started at the beginning of the year by a big cryptocurrency fan nicknamed hodlonaut and it started to gain some traction across the industry. It then became known by many as the Lightning Torch. This torch was a way to test Bitcoin’s new second network layer that promised to give better scaling and quicker transactions at much lower costs.

So for those who don’t know, the “torch” was passed from one person to another, with each individual pitching in 10,000 Satoshis into the account. The funds later were accumulated and then sent to the Bitcoin Venezuela initiative when the testing the torch ended back in the Spring.

The bitcoin torch was a success and so with that, the Stellar Foundation took some ideas and has been running its own version of the “torch”. This was done as a way to show off its network efficiency with the initiative being started by a user called, Wouter Arkink back in summer.

As per ZyCrypto:

“Everyone passing the torch has to use Keybase, an end-to-end suite of apps adopted by the Stellar community. However, one doesn’t have to really be on Keybase to receive the torch. A friend can pass the torch to someone on Twitter, in which case the person can receive it once they get on Keybase. Stellar also uses the apps in its airdropping campaigns.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!